Source: Colorado Real Estate Journal, August 4, 2021, p. 6: Chermut LLC purchased the 46,604 SF medical office building at 11111 E. Mississippi Ave. in Aurora from seller Mississippi 11111 LLC. The property traded for $3.95 million, representing a 9% cap rate. Travis Wanger of Fuller Real Estate represented the buyer in the deal, which Trish Rayner of Metro Brokers represented the seller. According to Wanger, the Colorado-based buyer traded into the property in a 2031 exchange. It was attracted to the property’s passive nature and high cap rate, Wanger noted. At the time of the sale, the 1970’s asset was fully occupied by small local tenants primarily under short-term leases. The buyer adds the asset to a portfolio of similar Class B and C offices. It has no plans for immediate improvements and looks forward to enjoying the property’s steady cash flow, Wanger added.
Aurora Office Building Sells
